| Key Terms |
Definition |
| Barrel |
A unit of volume equal to 42 U.S. gallons.
|
| Crude Adjustments |
A balancing item to account for the difference between the supply and disposition of
crude oil (formerly called "unaccounted for crude oil").
|
| Crude Oil |
A mixture of hydrocarbons that exists in liquid phase in natural underground
reservoirs and remains liquid at atmospheric pressure after passing through
surface separating facilities. Depending upon the characteristics of the crude
stream, it may also include:
Small amounts of hydrocarbons that exist in gaseous phase in natural
underground reservoirs but are liquid at atmospheric pressure after being
recovered from oil well (casinghead) gas in lease separators and are subsequently
commingled with the crude stream without being separately measured. Lease
condensate recovered as a liquid from natural gas wells in lease or field
separation facilities and later mixed into the crude stream is also included;
Small amounts of nonhydrocarbons produced with the oil, such as sulfur and
various metals;
Drip gases, and liquid hydrocarbons produced from tar sands, oil sands,
gilsonite, and oil shale.
Liquids produced at natural gas processing plants are excluded. Crude oil is refined to produce
a wide array of petroleum products, including heating oils; gasoline, diesel and jet fuels;
lubricants; asphalt; ethane, propane, and butane; and many other products used for their
energy or chemical content.
|
| Disposition |
The components of petroleum disposition are stock change, crude oil losses, refinery inputs,
exports, and products supplied for domestic consumption. |
| Ending Stocks |
Primary stocks of crude oil and petroleum products held in storage as of 12 midnight
on the last day of the month. Primary stocks include crude oil or petroleum products
held in storage at (or in) leases, refineries, natural gas processing plants, pipelines,
tank farms, and bulk terminals that can store at least 50,000 barrels of petroleum
products or that can receive petroleum products by tanker, barge, or pipeline. Crude
oil that is in-transit by water from Alaska, or that is stored on Federal leases or in
the Strategic Petroleum Reserve is included. Primary Stocks exclude stocks of foreign
origin that are held in bonded warehouse storage. |
| Exports |
Shipments of crude oil and petroleum products from the 50 States and the District of Columbia
to foreign countries, Puerto Rico, the Virgin Islands, and other U.S. possessions and territories.
|
| Imports |
Receipts of crude oil and petroleum products into the 50 States and the District of Columbia
from foreign countries, Puerto Rico, the Virgin Islands, and other U.S. possessions and territories.
|
| Imports by PAD District of Entry |
Represents the PAD District in which the material entered the United States and not
necessarily where the crude oil or product is processed and/or consumed.
|
| Petroleum Administration for Defense (PAD) Districts |
Geographic aggregations of the 50 States and the District of Columbia into five districts
by the Petroleum Administration for Defense in 1950. These districts were originally defined
during World War II for purposes of administering oil allocation.
Description and maps of PAD Districts and Refining Districts.
|
| Product Supplied |
Approximately represents consumption of petroleum products because it measures the
disappearance of these products from primary sources, i.e., refineries, natural gas
processing plants, blending plants, pipelines, and bulk terminals. In general, product
supplied of each product in any given period is computed as follows: field production,
plus refinery production, plus imports, plus unaccounted for crude oil, (plus net receipts
when calculated on a PAD District basis), minus stock change, minus crude oil losses,
minus refinery inputs, minus exports.
|
| Product Supplied, Crude Oil |
Crude oil burned on leases and by pipelines as fuel.
|
| Refinery |
An installation that manufactures finished petroleum products from crude oil, unfinished oils,
natural gas liquids, other hydrocarbons, and oxygenates.
|
| Refinery Input, Crude Oil |
Total crude oil (domestic plus foreign) input to crude oil distillation units and other
refinery processing units (cokers, etc.).
|
| Stock Change |
The difference between stocks at the beginning of the month and stocks at the end of the
month. A negative number indicates a decrease in stocks and a positive number indicates an
increase in stocks. |
| Stocks |
Inventories of fuel stored for future use. Stocks are reported as of the last day of the period
(e.g., week or month).
|
| Supply |
The components of petroleum supply are field production, refinery production, imports,
and net receipts when calculated on a PAD District basis.
|